The major US stock indices enjoyed a solid day with the Nasdaq index surging by 2.27%. The S&P rose by 1.54% and the Dow by 0.81%. The Nasdaq gain was it’s best since May 27 when the index rose by 2.47%.
The gains were driven by the expectations for the government shutdown to end. As luck would have it, it comes after Trump said that he will look to give air traffic controllers a $10,000 bonus for not shutting the air down.
Information technology stocks in telecom services were the biggest gainers in the broad S&P. Real estate, consumer staples and utilities were the decliners today.
-
Information Technology: +2.68%
-
Telecom Services: +2.53%
-
Consumer Discretionary: +1.49%
-
Materials: +1.04%
-
Energy: +0.92%
-
Health Care: +0.80%
-
Industrials: +0.58%
-
Financials: +0.33%
-
Utilities: −0.12%
-
Consumer Staples: −0.34%
-
Real Estate: −1.04%
Nvidia shares rose by 5.79% after falling over 7% last week. Broadcom rose 2.56% retracing a little less than half of the -5.46 decline last week. AMD rose 4.47% after tumbling -8.82% last week.
Alphabet rose by 4.04%, Tesla rose by 3.66%, Meta rose by 1.62%, Microsoft rose by 1.85%, Amazon rose by 1.63%, and Apple rose by 0.36%.
This article was written by Greg Michalowski at investinglive.com.